Beta Bionics (NASDAQ:BBNX) Hits New 12-Month Low - Time to Sell?

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $21.33 and last traded at $21.43, with a volume of 47071 shares. The stock had previously closed at $21.81.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BBNX shares. Robert W. Baird initiated coverage on shares of Beta Bionics in a research report on Thursday. They issued a "neutral" rating and a $20.00 price target for the company. Lake Street Capital initiated coverage on Beta Bionics in a research note on Monday. They set a "buy" rating and a $30.00 price target for the company. Bank of America initiated coverage on shares of Beta Bionics in a research note on Monday. They issued a "buy" rating for the company. Leerink Partners initiated coverage on Beta Bionics in a report on Monday. They set an "outperform" rating and a $28.00 target price on the stock. Finally, LADENBURG THALM/SH SH began coverage on Beta Bionics in a research note on Thursday. They set a "neutral" rating and a $20.00 price target for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.83.

Beta Bionics Stock Up 0.1 %

Insiders Place Their Bets

In other Beta Bionics news, insider Mike Mensinger purchased 33,350 shares of the business's stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the purchase, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the purchase, the insider now owns 3,901,599 shares in the company, valued at approximately $66,327,183. This trade represents a 34.46 % increase in their position. The disclosure for this purchase can be found here.

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Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.